According to Zacks, “El Paso Electric Co is a public utility engaged in the generation, transmission & distribution of electricity in an area of west Texas & southern New Mexico. El Paso also serves wholesale customers in Texas, New Mexico, California & Mexico. El Paso owns or has significant ownership interests in five electrical generating facilities providing it with a total capacity of approximately 1,500 MW. El Paso serves residential, commercial, industrial & wholesale customers. El Paso distributes electricity to retail customers principally in El Paso, Texas & the City of Las Cruces, New Mexico “
EE has been the topic of several other reports. Jefferies Group reaffirmed a buy rating and set a $52.50 price target on shares of El Paso Electric in a research report on Friday, September 23rd. Argus reaffirmed a hold rating on shares of El Paso Electric in a research report on Wednesday, October 5th.
El Paso Electric (NYSE:EE) opened at 42.95 on Tuesday. The company has a market capitalization of $1.74 billion, a P/E ratio of 23.52 and a beta of 0.33. El Paso Electric has a 12-month low of $35.32 and a 12-month high of $48.75. The stock’s 50 day moving average is $45.61 and its 200-day moving average is $45.77.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.25. The business earned $217.87 million during the quarter, compared to the consensus estimate of $219.50 million. El Paso Electric had a return on equity of 7.30% and a net margin of 8.77%. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities analysts predict that El Paso Electric will post $2.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Monday, September 12th. El Paso Electric’s dividend payout ratio (DPR) is currently 67.76%.
Hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC bought a new position in El Paso Electric during the second quarter valued at approximately $200,000. Paloma Partners Management Co bought a new position in El Paso Electric during the second quarter valued at approximately $215,000. Amalgamated Bank bought a new position in El Paso Electric during the second quarter valued at approximately $226,000. PineBridge Investments L.P. increased its position in El Paso Electric by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,134 shares of the company’s stock valued at $243,000 after buying an additional 188 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in El Paso Electric by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,663 shares of the company’s stock valued at $268,000 after buying an additional 684 shares in the last quarter. 96.16% of the stock is currently owned by hedge funds and other institutional investors.
About El Paso Electric
El Paso Electric Company is engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.
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